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Sorry, you are interested you do the leg work.
Yes, DJ News feed 11:12--11.30 Aprox. You also can check from Fed site.
Farooq
I was not axplaining behavior of the market, that is fact and that is 99% indicator when they do that market goes up.
2 will do, I am net long on QQQQ.
You buy puts market will go up. Puts go down, You and me make money on calls and stock.
Farooq
Fed did added money into the system before noon. PPT do not want a sudden drop.
JMHOP.
Farooq
Please buy 2 Puts for QQQQ 42.
LOL
I was thinking about etf or options.
I do use IB.
Misunderstanding on my part, I thought you folks are trading some derivative of RUT. Which broker you use for future trading?
TIA.
What insturment of future you are trading on RUT and what symbol?
I am hoping 1257 should provide strong resistance; otherwise we will test 1245 area.
Today action was spooky because it supposes to happen in three days which is completed in one day.
Of course I do not know future and I was wrong many times, JMHOP. Good luck to all.
Farooq
I am still holding my 39 puts but they are bought as insurance, I am short calls on QQQQ which I will cover tomorrow after noon.
I might not buy them to close, I may make them a spread long October and short June, and I can do it for 2-3 months.
I am uneasy with severity of drop. Seems to me computers are trading only. S&P Was slaughtered today. My 3 Theories about drop are followings.
1- Market is discounting that republican can not win congress any more; I think they will surprise the market. They might win again. I am a democrat but I think they are in leadership crisis. Dean is best to lead but the most influential group AIPAC hate him.
2- We are coming out of Iraq earlier then expected and some one wants to go long big way so they are taking all stops out.
3- If it is real slow down then we can hit 964 on S&P before moving up.
Of course I do not know future and I was wrong many times, JMHOP.
Farooq
I do not know that. I am in a business which has many players. Some time I just go on my guts felling which are 50/50.
They are taking no prisoner today.
Off course I do not know future and I was wrong many times,
Good luck to all.
Farooq
Are you short or you covered? We might retest previous low.
JMHOP.
Stopped out went long again @ 1266.50 which sold @ 1269.50 now flat.
Sold @ 1269.50, I was playing short term S/R. Now flat.
long more @ 1268.50, stop@1266.50
Great Post
5 contracts.
Long S&P 500@1269 June contract.
Computer does beat all hedge fund return. Yes they do not market those programs. They do make billions not millions, you are right in many things and misunderstand some.
Here is one who is making billions with computer model.
http://www.turtletrader.com/trader-simons.html
As for me I am a trader, I am a trader not investor. I buy inventory and try to sell at profit just like Wal-mart, most of my merchandise I sell with mark up some time just break even and some time on minor loss, when I conclude I bought stuff at a higher price.
There is one difference Wal-mart can not sell short I do.
TA is a tool which is like graphs of sales and cost which tells me weather my decision on basis of past history was correct or not, there is no indicator which can tell me exact future price. They are good faith estimate. There is no hard and fast fundamental analysis which can make money every day. I hope you have noticed that, other wise all low PE ratio stock should out perform the market. Fundamental analysis usually let you hold a poor performing stock, so you lend your money to a lousy company free of charge.
Do you really want to give your ($500,000) money to some one for few years free of cost and then ready to take back fraction of that amount?
I do not invest in any company long term if they are not paying me a dividend; in some cases they are paying me 100 % in dividend. Of course it increased over years to become 100%.
It is good to hear new Ideas.
Good luck.
Farooq
You are saying your system time the market perfectly and you never had a draw down?
Congratulations to you.
Best of luck.
Farooq
If 1284 Cash S&P not taken out on Tuesday price will test 1267---1263 in next week, that is according to my calculation, but my work so far indicate we will close on QQQQ @ 40.30 – 41on expiration. This decline is footprint of a big hedge fund who has a global reach, which is joined by other traders.
It is a common practice that when some support is broken then the next support is tested. Will we test low again? Very little chance in near future. Now those manager will try to take it to the level where short can be squeezed. And then fundamentals of market rules. Hedge fund managers try to make money from volatility and we do not have any shortage of it.
Best of luck.
Farooq
Off course I do not know future and I was wrong many times, JMHOP.
Very good observation.
Farooq
Some of them were purchased when I was not allowed to buy, I was 16 years old and they could not be transferred on my name till 18. I transferred them on my name after 2 year.
Farooq
Minimum we will go up to 39.90; chances are very good for 40.41.
Off course I do not know future and I was wrong many times, JMHOP. Good luck to all.
Farooq
50 % if you cross then you may retest all the way.
Off course I do not know future and I was wrong many times, JMHOP. Good luck to all.
Farooq
Back testing is good but it is about past, future is always different, if there is stop loss on short then logically system should generate a sell when it is wrong in bullish trend.
All system fails, if they do not consider turning in there logic. Optimizations make look good on every system. Off course I do not know future and I was wrong many times, JMHOP.
Good luck to all.
Farooq
Gelno34 is correct.
Where is stop loss???
Gleno34,
Watch EMA 9 and EMA 26 on 3 min chart and watch when they cross over. Paper trade till you get feel, let go first 10 cents, stop loss 10 cents from your entry and do not let a wining trade become a losing trade. Once you are in profit move you stop to at least break even. It is good On QQQQ. You will make about 400 to 500 $ on every 1k shares, Do not use day trade margin, better not use any margin at all, I am considering that your trade commission is around 5-10 $ per trade. If paying more change broker. It is better to start every day with clean slate. I transfer my 50 % profit every week, so mentally there is no cushion.
These are the things for day trade. My longest holding is 34 year old, I never traded that it pays more in dividend then what I paid to buy it.
Make portion of your money and never mix it with each other.
I wish you best of luck.
Farooq
Open a margin account with 25K but do not use margin.
Gleno34,
I hope you do not mind me butting in but your post forced me to write few lines.
Problem is not in systems; there are some knots in you, any system which make money 51 % time is a great system. Most system does not.
I started with 5000 and went up to 1 Million in three years and in those 3 year there was not a single month I lost money, and then I lost 97%, For 8 years I made enough to just survive , Then I read about Ed Sykota and his site which help me to transform me a better trader. I respect my inflicting point more I take my losses and move on I do not make them drama (Term Ed use often). You are a great trader, I really think so. You just need to respect your inflicting points which are losses, and my feeling is that you are trading way above your equity. If I trade option my max exposure on them is 5% and that is of my total equity and I do not want them to run against me so If I lose 1 % I either sell them or sell a reverse spread. If I am long QQQQ and I am long @ 40.35 then I always try to have puts @ 38, which in normal market are cheap but then I do not have to worry about stop loss. Your total exposure to all QQQQ calls should not be more then 5%. I hope you know 95% call buyers loose money.
Taking loss is part of the game and money management will take you there sooner then you think, and if you are trading on system or signal ask first where my stop loss is and if you can not afford then do not take that signal. Jimmy Rodger says patience is trader’s biggest asset.
Please forgive me if any thing hurts you in any way, I just wrote because people have helped me in reaching my goals.
I wish you best of luck.
Farooq
I see 1637—1641 better mark, but you may be on the mark. When decline is so severe then crowd tend to sell early. Technically we are in same area.
Thanks for sharing,
Good luck to all.
Farooq
some one buying those blocks and they are institutions too.
S&P Cash numbers 1282 with out much resistance, if crossed 1298-1300, then very heavy resistance. This will be achieving in coming three weeks. Pattern can last up to six week, in that case we can make new high on S&P but that is too early.
Speculation, yeh it can go to 1350 – 1370. That will be bummer.
Off course I do not know future and I was wrong many times, JMHOP.
Good luck to all.
Farooq
S&P Cash numbers 1282 with out much resistance, if crossed 1298-1300, then very heavy resistance. This will be achieving in coming three weeks. Pattern can last up to six week, in that case we can make new high on S&P but that is too early.
Speculation, yeh it can go to 1350 – 1370. That will be bummer.
Off course I do not know future and I was wrong many times, JMHOP.
Good luck to all.
Farooq
S&P Cash numbers 1282 with out much resistance, if crossed 1298-1300, then very heavy resistance. This will be achieving in coming three weeks. Pattern can last up to six week, in that case we can make new high on S&P but that is too early.
Speculation, yeh it can go to 1350 – 1370. That will be bummer.
Off course I do not know future and I was wrong many times, JMHOP.
Good luck to all.
Farooq
S&P Cash numbers 1282 with out much resistance, if crossed 1298-1300, then very heavy resistance. This will be achieving in coming three weeks. Pattern can last up to six week, in that case we can make new high on S&P but that is too early.
Speculation, yeh it can go to 1350 – 1370. That will be bummer.
Off course I do not know future and I was wrong many times, JMHOP.
Good luck to all.
Farooq
Human beings are quite resilient spices they have survived all the plagues and pandemics with no resources, so I am very sure they will survive this one also.
Let’s see what happen next.
Best of luck.
Farooq